Bothell’s LipoSonix sold for $150 million

LipoSonix, the Bothell company that is using ultrasound technology to reduce fat, said Monday it had agreed to be purchased by Scottsdale, Ariz.-based Medicis for $150 million in cash. Medicis could also pay LipoSonix shareholders another $150 million if the product is approved by the FDA in the U.S.

LipoSonix employs 40 in Bothell and no announcement was made about job cuts. However, in a release, Medicis said it “will retain a strong presence in Bothell,” where the ultrasound systems will be made.

LipoSonix recently started selling its first product in Europe and expects to enter the U.S. market by 2011.

In 2004, the company raised $27 million from a number of venture firms, bringing the total amount of money raised to $37 million. Investors include Three Arch Partners, Delphi Ventures, The Carlyle Group, Pinnacle Ventures and Versant Ventures.